Jensen Investment Management Inc. Has $6.69 Million Stock Holdings in Tractor Supply (NASDAQ:TSCO)

Jensen Investment Management Inc. lifted its stake in shares of Tractor Supply (NASDAQ:TSCO) by 400.0% in the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 126,150 shares of the specialty retailer’s stock after buying an additional 100,920 shares during the quarter. Jensen Investment Management Inc.’s holdings in Tractor Supply were worth $6,694,000 as of its most recent filing with the SEC.

Other hedge funds also recently modified their holdings of the company. Providence Capital Advisors LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter worth about $32,000. Assetmark Inc. lifted its stake in shares of Tractor Supply by 2,383.3% during the 3rd quarter. Assetmark Inc. now owns 149 shares of the specialty retailer’s stock worth $43,000 after buying an additional 143 shares during the last quarter. Larson Financial Group LLC lifted its stake in shares of Tractor Supply by 29.4% during the 3rd quarter. Larson Financial Group LLC now owns 286 shares of the specialty retailer’s stock worth $83,000 after buying an additional 65 shares during the last quarter. First Horizon Advisors Inc. lifted its stake in shares of Tractor Supply by 13.2% during the 3rd quarter. First Horizon Advisors Inc. now owns 351 shares of the specialty retailer’s stock worth $102,000 after buying an additional 41 shares during the last quarter. Finally, Icon Wealth Advisors LLC acquired a new stake in shares of Tractor Supply during the 3rd quarter worth about $111,000. Institutional investors and hedge funds own 98.72% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the stock. Telsey Advisory Group reaffirmed an “outperform” rating and set a $67.00 price target on shares of Tractor Supply in a research report on Thursday, January 30th. Wells Fargo & Company lowered their price target on shares of Tractor Supply from $65.00 to $64.00 and set an “overweight” rating on the stock in a research report on Monday, November 25th. Mizuho raised their price target on shares of Tractor Supply from $60.00 to $62.00 and gave the stock an “outperform” rating in a research report on Thursday, January 23rd. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of Tractor Supply in a research report on Friday, January 31st. Finally, JPMorgan Chase & Co. raised their target price on shares of Tractor Supply from $58.00 to $59.00 and gave the company a “neutral” rating in a report on Friday, January 31st. Two analysts have rated the stock with a sell rating, six have assigned a hold rating, twelve have assigned a buy rating and one has given a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $59.22.

Insider Buying and Selling

In related news, SVP Matthew L. Rubin sold 3,850 shares of Tractor Supply stock in a transaction that occurred on Thursday, February 20th. The shares were sold at an average price of $57.69, for a total transaction of $222,106.50. Following the sale, the senior vice president now directly owns 31,787 shares in the company, valued at $1,833,792.03. This trade represents a 10.80 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, EVP Melissa Kersey sold 9,300 shares of the business’s stock in a transaction that occurred on Thursday, February 6th. The stock was sold at an average price of $53.17, for a total transaction of $494,481.00. Following the completion of the transaction, the executive vice president now owns 34,961 shares in the company, valued at $1,858,876.37. This trade represents a 21.01 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 137,993 shares of company stock worth $7,538,068 in the last ninety days. Company insiders own 0.24% of the company’s stock.

Tractor Supply Trading Up 0.3 %

Shares of Tractor Supply stock opened at $51.83 on Monday. The firm has a market capitalization of $27.68 billion, a PE ratio of 25.41, a price-to-earnings-growth ratio of 2.95 and a beta of 0.85. The company has a current ratio of 1.43, a quick ratio of 0.20 and a debt-to-equity ratio of 0.82. The firm’s 50 day moving average is $55.19 and its 200 day moving average is $55.74. Tractor Supply has a 1 year low of $48.30 and a 1 year high of $61.53.

Tractor Supply (NASDAQ:TSCO) last posted its earnings results on Thursday, January 30th. The specialty retailer reported $0.44 EPS for the quarter, missing the consensus estimate of $2.28 by ($1.84). Tractor Supply had a return on equity of 49.01% and a net margin of 7.40%. Equities research analysts forecast that Tractor Supply will post 2.17 earnings per share for the current fiscal year.

Tractor Supply Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Tuesday, March 11th. Investors of record on Wednesday, February 26th were given a dividend of $0.92 per share. The ex-dividend date of this dividend was Wednesday, February 26th. This is an increase from Tractor Supply’s previous quarterly dividend of $0.22. This represents a $3.68 annualized dividend and a yield of 7.10%. Tractor Supply’s dividend payout ratio (DPR) is currently 45.10%.

Tractor Supply declared that its Board of Directors has initiated a share buyback program on Thursday, February 13th that permits the company to repurchase $1.00 billion in outstanding shares. This repurchase authorization permits the specialty retailer to reacquire up to 3.3% of its stock through open market purchases. Stock repurchase programs are often a sign that the company’s board believes its shares are undervalued.

About Tractor Supply

Tractor Supply Company operates as a rural lifestyle retailer in the United States. The company offers various merchandise, including livestock and equine feed and equipment, poultry, fencing, and sprayers and chemicals; food, treats, and equipment for dogs, cats, and other small animals, as well as dog wellness products; seasonal and recreation products comprising tractors and riders, lawn and garden, bird feeding, power equipment, and other recreational products; truck, tool, and hardware products, such as truck accessories, trailers, generators, lubricants, batteries, and hardware and tools; and clothing, gift, and décor products consist of clothing, footwear, toys, snacks, and decorative merchandise.